A brief analysis of Stacks’ Nakamoto upgrade: improving performance and introducing sBTC

Original author: Sleeping in the rain

I mentioned the BTC ecosystem before, and specifically mentioned Stacks and the Satoshi upgrade. Today I will continue to talk to you about the Stacks project.

Let’s quickly go over the basic information of Stacks. (Stacks is an old project, so I’ll just give you a brief overview of this information.)

From my personal point of view, $STX has never been absent from the markets hype about the BTC ecosystem, but the previous hype was more like a castle in the air without a foundation. After the Satoshi upgrade, Stacks will give the market higher expectations through higher performance and sBTC.

So, what exactly did Satoshi Nakamoto upgrade?

1. Performance

Previously, Stacks’ block confirmation time followed Bitcoin’s (PoX consensus mechanism), and the block time was about 10 minutes. This means that as Bitcoin’s Layer 2, Stacks is unqualified. Although it inherits Bitcoin’s security, it does not improve the performance enough on the basis of Layer 1.

After the Satoshi upgrade, according to Grayscales calculations, Stacks block time and gas fee were reduced from 6 min/6.65 u to 5 s/0.25 u.

Higher performance means better user experience, and better experience means higher appeal to users and developers. It will become the foundation for the development of the Stacks ecosystem. For example, it was very tiring to hype memes on Stacks before, but now it will be much easier. We can also see more possibilities for Stacks DeFi, such as a wider range of DeFi products and a wider range of DeFi participants.

Another point is that Stacks is optimizing the Nakamoto upgrade to achieve lower latency and higher bandwidth. Refer to this article ⬇️

https://Bitcoinl2 labs.com/optimizing-nakamoto

In terms of concept, Stacks is still committed to solving the shortcomings of Stacks before to achieve higher performance. Only with higher performance can it have a chance to compete with other high-performance Layer 1/Layer 2.

2. $sBTC

Speaking of DeFi, after the Satoshi upgrade, the sBTC upgrade will happen in early December (at the earliest), and more upgrades will be carried out in January and beyond. The Satoshi upgrade is the basis for the sBTC upgrade, and the early December upgrade will optimize the Stacks token issuance mechanism and launch sBTC.

Btw, I hope it won’t be delayed like the Satoshi upgrade.

After the upgrade, sBTC will likely become one of the important assets in the Krypto market (the previous incident with $WBTC also contributed to the development of cbBTC and sBTC, and Coinbase also removed $WBTC).

For sBTC, the most noteworthy indicator is its adoption. We can also see that Stacks is working hard to promote the adoption of sBTC, such as cooperating with Bitcoin ATM operator Coinflip to integrate Stacks and sBTC, such as introducing sBTC to Aptos, Solana, and so on.

For sBTC, the growth model of cbBTC is very worthy of reference. For example, supporting Moonwell and using $WELL tokens (and pulling up $WELL) as rewards to promote the adoption of cbBTC. (And Stacks is very rich, having recently raised $20 million in new financing. They can definitely use their hard-earned money to incentivize the adoption of sBTC, such as incentivizing the adoption of sBTC on the lending protocols of Stacks, Aptos, and Solana.)

In general, the overall expectations for Stacks are good: the Satoshi upgrade brings higher performance and introduces sBTC as the core asset of the Stacks ecosystem. The strong strength of Stacks has increased the adoption expectations of sBTC.

Finally, let me digress. Recently, many public blockchains are upgrading, such as Fantom Sonic and Avalanche 9000. Their core purpose is to promote the adoption of public chains. It is foreseeable that the next few months will be quite exciting, and the public chain war is about to begin again.

Enjoy

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